Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30truefalse2022-10-01sheetmetal fabrication89trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05752921 2022-10-01 2023-09-30 05752921 2021-10-01 2022-09-30 05752921 2023-09-30 05752921 2022-09-30 05752921 c:Director1 2022-10-01 2023-09-30 05752921 d:PlantMachinery 2022-10-01 2023-09-30 05752921 d:PlantMachinery 2023-09-30 05752921 d:PlantMachinery 2022-09-30 05752921 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 05752921 d:MotorVehicles 2022-10-01 2023-09-30 05752921 d:MotorVehicles 2023-09-30 05752921 d:MotorVehicles 2022-09-30 05752921 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 05752921 d:FurnitureFittings 2022-10-01 2023-09-30 05752921 d:FurnitureFittings 2023-09-30 05752921 d:FurnitureFittings 2022-09-30 05752921 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 05752921 d:OfficeEquipment 2022-10-01 2023-09-30 05752921 d:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 05752921 d:OtherPropertyPlantEquipment 2023-09-30 05752921 d:OtherPropertyPlantEquipment 2022-09-30 05752921 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 05752921 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 05752921 d:Goodwill 2023-09-30 05752921 d:Goodwill 2022-09-30 05752921 d:CurrentFinancialInstruments 2023-09-30 05752921 d:CurrentFinancialInstruments 2022-09-30 05752921 d:Non-currentFinancialInstruments 2023-09-30 05752921 d:Non-currentFinancialInstruments 2022-09-30 05752921 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 05752921 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 05752921 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 05752921 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 05752921 d:ShareCapital 2023-09-30 05752921 d:ShareCapital 2022-09-30 05752921 d:RetainedEarningsAccumulatedLosses 2023-09-30 05752921 d:RetainedEarningsAccumulatedLosses 2022-09-30 05752921 c:OrdinaryShareClass1 2022-10-01 2023-09-30 05752921 c:OrdinaryShareClass1 2023-09-30 05752921 c:OrdinaryShareClass1 2022-09-30 05752921 c:OrdinaryShareClass2 2022-10-01 2023-09-30 05752921 c:OrdinaryShareClass2 2023-09-30 05752921 c:OrdinaryShareClass2 2022-09-30 05752921 c:FRS102 2022-10-01 2023-09-30 05752921 c:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 05752921 c:FullAccounts 2022-10-01 2023-09-30 05752921 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 05752921 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-10-01 2023-09-30 05752921 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-09-30 05752921 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-09-30 05752921 d:Goodwill d:OwnedIntangibleAssets 2022-10-01 2023-09-30 05752921 e:PoundSterling 2022-10-01 2023-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05752921









SAS SHEETMETAL & FABRICATION LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
SAS SHEETMETAL & FABRICATION LIMITED
 

CONTENTS



Page
Accountants' Report
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 9


 
SAS SHEETMETAL & FABRICATION LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SAS SHEETMETAL & FABRICATION LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SAS Sheetmetal & Fabrication Limited for the year ended 30 September 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of SAS Sheetmetal & Fabrication Limited, as a body, in accordance with the terms of our engagement letter dated 8 December 2023Our work has been undertaken solely to prepare for your approval the financial statements of SAS Sheetmetal & Fabrication Limited  and state those matters that we have agreed to state to the Board of Directors of SAS Sheetmetal & Fabrication Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SAS Sheetmetal & Fabrication Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that SAS Sheetmetal & Fabrication Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SAS Sheetmetal & Fabrication Limited. You consider that SAS Sheetmetal & Fabrication Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of SAS Sheetmetal & Fabrication Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
17 March 2024
Page 1

 
SAS SHEETMETAL & FABRICATION LIMITED
REGISTERED NUMBER: 05752921

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
6,189
8,252

Tangible assets
 5 
66,894
68,230

  
73,083
76,482

Current assets
  

Stocks
  
9,559
11,300

Debtors: amounts falling due within one year
 6 
370,504
272,673

Cash at bank and in hand
  
164,853
244,987

  
544,916
528,960

Creditors: amounts falling due within one year
 7 
(304,429)
(257,703)

Net current assets
  
 
 
240,487
 
 
271,257

Total assets less current liabilities
  
313,570
347,739

Creditors: amounts falling due after more than one year
 8 
(45,454)
(72,727)

Provisions for liabilities
  

Deferred tax
  
(8,131)
(8,614)

  
 
 
(8,131)
 
 
(8,614)

Net assets
  
259,985
266,398


Capital and reserves
  

Called up share capital 
 9 
4
4

Profit and loss account
  
259,981
266,394

  
259,985
266,398


Page 2

 
SAS SHEETMETAL & FABRICATION LIMITED
REGISTERED NUMBER: 05752921
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 March 2024.




................................................
Mr Ian Saunders
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
SAS SHEETMETAL & FABRICATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

The Company is a private company incorporated in the United Kingdom and limited by shares. It is registered in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ.  The company's principal place of business is Great Yarmouth.
The company's principal activity is that of Sheetmetal Fabrication and Lasercutting.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Turnover comprises revenue recognised by the company in respect of sheetmetal fabrication and lasercutting. 
Turnover is recognised to the extent that it is probable that economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes and on an accruals basis.

 
2.3

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life of 20 years. 

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
SAS SHEETMETAL & FABRICATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant & machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment and fixtures and fittings
-
25% reducing balance
Leasehold property improvements
-
Straight line from date of improvement to July 2029

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in profit or loss.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.8

Pensions

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
SAS SHEETMETAL & FABRICATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted at the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 9).


4.


Intangible assets




Goodwill

£



Cost


At 1 October 2022
41,260



At 30 September 2023

41,260



Amortisation


At 1 October 2022
33,008


Charge for the year on owned assets
2,063



At 30 September 2023

35,071



Net book value



At 30 September 2023
6,189



At 30 September 2022
8,252



Page 6

 
SAS SHEETMETAL & FABRICATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment & fixtures & fittings
Leasehold improve - ments
Total

£
£
£
£
£



Cost or valuation


At 1 October 2022
435,518
32,040
18,948
35,448
521,954


Additions
18,033
-
1,119
-
19,152


Disposals
(330)
-
(330)
-
(660)



At 30 September 2023

453,221
32,040
19,737
35,448
540,446



Depreciation


At 1 October 2022
387,143
30,548
15,368
20,664
453,723


Charge for the year on owned assets
16,567
373
1,167
2,204
20,311


Disposals
(184)
-
(299)
-
(483)



At 30 September 2023

403,526
30,921
16,236
22,868
473,551



Net book value



At 30 September 2023
49,695
1,119
3,501
12,580
66,895



At 30 September 2022
48,375
1,492
3,580
14,783
68,230

Page 7

 
SAS SHEETMETAL & FABRICATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
85,921
168,981

Other debtors
-
259

Prepayments and accrued income
284,583
103,433

370,504
272,673



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
27,273
27,273

Trade creditors
101,180
84,776

Other taxation and social security
35,887
85,142

Other creditors
5,413
15,952

Accruals and deferred income
134,676
44,560

304,429
257,703


Included within creditors: amounts falling due within one year are secured creditors of £27,273 (2022 - £27,273).


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
45,454
72,727

45,454
72,727


Included within creditors: amounts falling due after more than one year are secured creditors of £45,454 (2022 - £72,727).

Page 8

 
SAS SHEETMETAL & FABRICATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) A Ordinary shares of £1.00 each
2
2
2 (2022 - 2) B Ordinary shares of £1.00 each
2
2

4

4



10.


Pension commitments

Contributions totalling £964 (2022- £1,034) were payable to the fund at the balance sheet date and are included in creditors. 


11.Commitments

The company had total financial commitments, guarantees and contingencies which are not included in the balance sheet amounting to £3,716. (2022: £7,771).


12.


Transactions with directors

As at 30 September 2023 the balance owed to the directors was £4,449 (2022 - £14,505) and is included in other creditors due within one year in note 7 to the financial statements. The loan is interest free and is repayable on demand.

 
Page 9